The leading YouTube channel Altcoin Buzz discussed that second-layer Bitcoin projects will dominate in 2024. Researchers specifically highlighted the project Stacks (STX), stating that it will demonstrate the highest growth metrics and explained why.
Stacks is a Layer 2 network that tackles key scalability issues. Experts explained that it operates on its own nodes, ensuring smooth functioning of the underlying network. Stacks uses Bitcoin as the base layer, recording all transactions on the blockchain.
Analysts also cited several reasons why the value of the STX token could continue to rise. Among them is the upcoming Nakamoto upgrade—a revolutionary Stacks protocol update. Additionally, the introduction of the Bitcoin Trust Score (SBTC) version will have a significant impact. Experts also noted the importance of Bitcoin ETF approval, which led to the attraction of institutional and retail investors.
Furthermore, specialists highlighted the growth in decentralized finance activity on the Stacks blockchain sector. Additionally, partnerships with Bifrost, the popularity of Ordinals, and other factors could serve as growth catalysts.
The idea behind Stacks emerged from a desire to provide decentralization and control over one’s data on the internet. Blockstack offers a new approach to building applications, termed the ‘New Internet,’ based on blockchain and smart contracts. Blockstack provides the infrastructure for creating and deploying decentralized applications where users have full control over their data.